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  • Research performed by

    Grand Strand Market Report September 2016 Single Family Residential sales activity dipped as sales prices rise 4%. Year-to-date

    sales and sales price remain strong, up 3.6% and 3.3% respectively. Condo sales in

    September are flat with prices rising 3.3% compared to September 2015.

    Residential lot sales are up 15% compared to September 2015 but down 6.7% for

    the year.

    SFR sales volume dipped 9.4% in September which marked four consecutive months of decline as compared to 2015 record performance. Year-to-date, SFR sales are up 3.6% compared to 2015. Median sales price increased to $215,320, up 4% for the month, and up 3.3% in 2016. When compared to September 2015, sales prices for new construction and resales are up 7.6% and 3.9% respectively. Year-to-date, the median sales price for new construction has remained stable with resales up 6.6%. The average sold-to-list ratio for Single Family Residential sales in September was 96%, flat compared to the same month in 2015.

    Condo sales decreased 0.9% compared to September 2015 but are up 8.2% year-to-date compared to 2015. Condo inventory remained stable, only increasing by 0.1% in September. Median sales price increased 3.3% to $124,000 in September and maintained its growth at 3.5% for the year. The average sold to list ratio for condo sales in September was 93%, up 100 basis points compared to the same month in 2015.

    Residential lot sales were up 15% in September compared to 2015 but are down 6.7% year-to- date. Median sales price saw an 8.2% decrease for the month compared to 2015 with the year- to-date sales price decreasing 4.7%. However, sold to list ratios are up 400 basis points for September and up 500 basis points for the year.

    At a glance…

    SFR Condo Residential Lot

    Sales Inventory Sales Inventory Sales Inventory Month YTD Month Month YTD Month Month YTD Month

    -

    Median Sales Price Median Sales Price Median Sales Price

    $215,320 $124,000 $44,500

  • 2 Research performed by

    Contents

    Active Inventory 3

    Inventory Trends – SFR & Condo 4

    Closed Sales – SFR 5

    Median Sales Price – SFR 6

    Sold to List Price Ratio – SFR 7

    New Construction vs Resale – SFR

    % of Total Sales 8

    Median Sales Price 9

    Closed Sales – Condo 10

    Median Sales Price – Condo 11

    Sold to List Price Ratio – Condo 11

    Closed Sales – Residential Lot 12

    Median Sales Price – Residential Lot 13

    Sold to List Price Ratio – Residential Lot 13

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  • 3 Research performed by

    Grand Strand Active Inventory Single Family Residential Distribution by Price Range

    Condo/Townhome Distribution by Price Range

    Residential Lot Distribution by Price Range

    Horry Co. G’town Co.

    Less than $150k 668 65

    $150k - $250k 1,686 118 $250k - $500k 1,600 330

    $500k - $1.0 MM 408 155

    $1 MM + 110 91

    # Listings

    Horry Co. 4,472 Georgetown 759

    Total 5,231

    Average List Price $354,067 Median List Price $257,400

    Horry Co. G’town Co.

    Less than $100k 904 20 $100k - $150k 915 73

    $150k - $200k 602 84 $200k - $400k 999 103

    $400k - $750k 165 90

    $750k + 31 18

    # Listings

    Horry Co. 3,616

    Georgetown 388

    Total 4,004 Average List Price $200,958

    Median List Price $157,950

    Horry Co. G’town Co.

    Less than $25k 179 63

    $25k - $50k 376 87

    $50k - $75k 246 57 $75k - $100k 144 72

    $100k - $175k 200 120 $175k - 250k 110 87

    $250k + 115 133

    # Listings

    Horry Co. 1,370

    Georgetown 619

    Total 1,989

    Average List Price $139,900

    Median List Price $74,900

  • 4 Research performed by

    Grand Strand Inventory Trends SFR Inventory - September

    Historical Data

    Condo Inventory – September

    Historical Data

    May-10 5,453

    Dec-11 4,340

    Sep-16 5,231

    4,000 4,200 4,400 4,600 4,800 5,000 5,200 5,400 5,600 5,800

    M ay

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    4,364

    4,143 4,213

    4,000 4,004

    2012 2013 2014 2015 2016

    Jun-10 5,748

    Dec-13 3,930

    Sep-16 4,004

    3,500

    4,000

    4,500

    5,000

    5,500

    6,000

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    4,717 4,888

    5,258 5,369 5,231

    2012 2013 2014 2015 2016

  • 5 Research performed by

    Closed Sales – SFR September Year to Date

    Historical Data

    Year Over Year

    555

    678 614

    2014 2015 2016

    4,372

    5,286 5,475

    2014 2015 2016

    Jan-09 149

    Jun-15 756

    Sep-16 614

    100

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    500

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    800

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    Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

    2015 2016

  • 6 Research performed by

    Median Sales Price – SFR

    September Year to Date

    Historical Data

    $196,000

    $207,063

    $215,320

    2014 2015 2016

    $190,000

    $200,798

    $207,500

    2014 2015 2016

    Jun-06 $242,310

    Sep-12 $160,163

    Sep-16 $215,320

    $150,000

    $160,000

    $170,000

    $180,000

    $190,000

    $200,000

    $210,000

    $220,000

    $230,000

    $240,000

    $250,000

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  • 7 Research performed by

    Sold to List Price Ratio – SFR

    September Year to Date

    Historical Data

    95%

    96% 96%

    2014 2015 2016

    94%

    95%

    96%

    2014 2015 2016

    Jan-06 98%

    September-09 & Apr-11 86%

    Sep-16 96%

    80

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